‘You Can’t Do What They Tried to Do’: Fox’s Charlie Gasparino Dives Into Why Trump’s Tariff Gambit Failed

Fox Business Network’s Charlie Gasparino explained why President Donald Trump’s tariff gambit failed on Tuesday morning, telling Fox News anchors Dana Perino and Bill Hemmer that you just “can’t do” what Trump and his economic team “tried to do.”

“I do think you have to be a realist here, and the realism is this: you can’t do what they try to do with the U.S. economy on trade,” began Gasparino. “If you do that, you will get a bond market. And by the way, we look at stocks all day, the bond market is what rebelled and caused this. I don’t care what anybody says. You can’t sell your debt. Well, guess what? Your budget deficit gaps out. If the bond market shuts down, your paycheck doesn’t come to you because your business needs the short-term bond market to basically float bonds to get your money. This is the plumbing of the financial system.”

He continued:

And I’ll tell you that day after Liberation Day, I was at a restaurant sitting there with a drink in my hand, and I’m looking at my phone, and every major bond investor was telling me this is insane. Yields were starting to spike through the roof. The 10-year yield, remember, that’s the most important one. The reason why? Every consumer rate is pegged off that. If that starts gapping out to 4.5 — we’re at 4.4 now, you got to check the chart — but the five where it was heading that night? Oh, we’re in deep trouble.

Gasparino’s commentary came one day after the U.S. reached a temporary trade truce with China that compelled the commentator to conclude that “Trump raised tariffs on the world, the markets, particularly the bond market — which we need to finance our debt–rebelled. Trump then was forced to back off. End of story. Film at 11 of the president spinning this as a major victory.”

Watch above via Fox News.